California State Teachers Retirement System grew its stake in Snap-on (NYSE:SNA) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,014 shares of the company’s stock after purchasing an additional 7,349 shares during the quarter. California State Teachers Retirement System owned approximately 0.19% of Snap-on worth $19,001,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cohen & Steers Inc. bought a new position in shares of Snap-on in the third quarter valued at about $9,707,000. Toronto Dominion Bank raised its position in shares of Snap-on by 11.3% in the third quarter. Toronto Dominion Bank now owns 21,858 shares of the company’s stock valued at $3,257,000 after purchasing an additional 2,227 shares during the period. JPMorgan Chase & Co. raised its position in shares of Snap-on by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after purchasing an additional 270,905 shares during the period. California Public Employees Retirement System raised its position in shares of Snap-on by 2.6% in the third quarter. California Public Employees Retirement System now owns 139,858 shares of the company’s stock valued at $20,840,000 after purchasing an additional 3,558 shares during the period. Finally, Comerica Bank increased its position in Snap-on by 20.4% during the fourth quarter. Comerica Bank now owns 20,827 shares of the company’s stock worth $3,806,000 after acquiring an additional 3,523 shares during the period. 99.40% of the stock is currently owned by institutional investors.
Snap-on (NYSE SNA) opened at $149.43 on Tuesday. Snap-on has a 1 year low of $140.83 and a 1 year high of $185.47. The company has a market cap of $8,672.65, a PE ratio of 15.70, a P/E/G ratio of 1.29 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, March 1st. Snap-on’s dividend payout ratio is currently 34.45%.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 5,743 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $159.93, for a total transaction of $918,477.99. Following the completion of the transaction, the senior vice president now directly owns 51,840 shares in the company, valued at $8,290,771.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,355 shares of company stock worth $24,058,960. Insiders own 4.00% of the company’s stock.
SNA has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Snap-on from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. B. Riley reaffirmed a “buy” rating and set a $205.00 price target on shares of Snap-on in a research report on Thursday, January 4th. Barrington Research reaffirmed a “buy” rating on shares of Snap-on in a research report on Thursday, March 8th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $220.00 price target (up from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $192.00.
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Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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